According to the Statement of Affairs of the State Bank of Pakistan, for the week ended May 17, 2008, both notes in circulation and those issued increased in the week.

Notes in circulation stood at Rs1,076.999bn against earlier week’s figure of Rs1,074.682bn, a rise of Rs2.317bn. When compared to the corresponding week a year ago when it was Rs914.800bn, the current week’s figure is higher by Rs162.199bn.

Total notes issued also increased in the current week over preceding week’s level. At Rs1,077.195bn it was larger by Rs2.392bn over the figure of Rs1,074.803bn recorded a week earlier. In the corresponding week last year it amounted to Rs914.930bn, which shows current week’s figure to be higher by Rs162.265bn over last year’s corresponding figure.

Approved foreign exchange declined in the week to Rs497.195bn or by Rs22.005bn over preceding week’s figure of Rs519.200bn. When compared to the corresponding week a year ago, when the figure was Rs601.466bn, the current week’s figure is lower by Rs104.271bn.

Balances held outside Pakistan in approved foreign exchange increased in the week under review. It stood at Rs166.984bn over preceding week’s figure of Rs165.395bn, a rise of Rs1.589bn. Compared to last year’s corresponding figure of Rs133.793bn, the current week’s figure is larger by Rs33.191bn.

Loans and advances of scheduled banks to the three sectors – agricultural, industrial and export showed a mixed trend in the week under review. The agricultural sector received Rs49.777bn, similar to preceding week’s figure. The current week’s figure is smaller by Rs10.406bn over last year’s corresponding figure of Rs60.183bn.

There was an inflow of Rs39.828bn to the industrial sector during the week under review, a fall of Rs0.115bn against preceding week’s figure of Rs39.943bn. When compared to last year’s corresponding figure of Rs41.972bn, the current week’s figure is smaller by Rs2.144bn.

The export sector received Rs99.414bn against previous week’s figure of Rs99.003bn, higher by Rs0.411bn. Current week’s figure was smaller by Rs38.587bn over last year’s corresponding figure of Rs138.001billion.

According to the weekly statement of position of all scheduled banks for the week ended May 17, 2008, deposits and other accounts of the scheduled banks stood at Rs3,654.497bn, larger by Rs5.408bn over preceding week’s figure of Rs3,649.089bn. Commercial banks deposits showed an increase of Rs5.712bn over the week to Rs3,641.977bn, against preceding week’s Rs3,636.265bn. Specialised banks deposits stood at Rs12.520bn, against preceding week’s Rs12.824bn, a decline of Rs0.304bn.

Borrowings by all scheduled banks decreased during the week over preceding week’s figure. It fell to Rs437.933bn over preceding week’s figure of Rs442.262bn, a fall of Rs4.329bn. This was primarily due to a fall in the borrowings by commercial banks, which fell to Rs356.284bn against previous week’s Rs361.359bn, or by Rs5.075bn. Borrowings by specialized banks stood at Rs81.648bn, against preceding week’s figure of Rs80.903bn.

Gross advances stood at Rs2,949.279bn in the week under review, a rise of Rs34.828bn over preceding week’s figure of Rs2,914.451bn. Advances by commercial banks rose to Rs2,852.524bn against earlier week’s figure of Rs2,817.868bn, or by Rs34.656bn. Advances of specialised banks stood at Rs96.754bn, larger by Rs0.17bn over earlier week’s figure of Rs96.584bn.

Investments of all scheduled banks declined in the week by Rs0.839bn to Rs1,013.005bn against preceding week’s figure of Rs1,013.844bn. Commercial banks investment fell to Rs998.104bn, from earlier week’s Rs999.513bn, or by Rs1.409bn. Specialised banks investment stood at Rs14.901bn, against preceding week’s Rs14.317bn, larger by Rs0.584bn.